International Oil Prices Surge 5% Amid Strait of Hormuz Tensions

Iran's state-run Tasnim News Agency reported that the Iranian negotiation delegation has halted all communication with the U.S. and is considering plans to block the Strait of Hormuz. Tasnim cited Israel's military operation against Hezbollah as the backdrop for this move, suggesting a strong response to a ceasefire violation.

International oil prices surged over 5% after Iran hinted at the possibility of blocking the Strait of Hormuz. Immediately after the related report, international oil prices soared by more than 5%, reflecting market concerns over the collapse of diplomatic solutions in the Middle East.

Earlier, U.S. President Donald Trump convened a meeting to discuss a 60-day truce agreement with Iran, but the meeting reportedly concluded without a final resolution.